Kennametal Inc. (NYSE:KMT) had its price target raised by Jefferies Group from $30.00 to $35.00 in a research note released on Tuesday morning. The firm currently has a buy rating on the stock.
Several other brokerages also recently commented on KMT. Credit Suisse Group AG reissued a hold rating on shares of Kennametal in a report on Saturday, July 9th. Barrington Research raised their price target on shares of Kennametal from $28.00 to $31.00 and gave the company an outperform rating in a report on Wednesday, August 3rd. Seaport Global Securities downgraded shares of Kennametal from an accumulate rating to a neutral rating and set a $28.00 price target for the company. in a report on Thursday, August 18th. Zacks Investment Research downgraded shares of Kennametal from a strong-buy rating to a hold rating in a report on Tuesday, July 5th. Finally, Bank of America Corp. downgraded shares of Kennametal from a neutral rating to an underperform rating in a report on Thursday, July 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Kennametal presently has an average rating of Hold and an average price target of C$25.00.
Shares of Kennametal (NYSE:KMT) traded up 0.31% on Tuesday, hitting $28.68. 18,831 shares of the stock traded hands. The firm’s market cap is $2.29 billion. The stock has a 50-day moving average price of $28.19 and a 200 day moving average price of $25.24. Kennametal has a 52 week low of $15.11 and a 52 week high of $29.87.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company earned $521.20 million during the quarter, compared to the consensus estimate of $519.51 million. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. Kennametal’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. Equities research analysts predict that Kennametal will post $1.26 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of Kennametal by 148.3% in the first quarter. Aperio Group LLC now owns 25,586 shares of the company’s stock worth $575,000 after buying an additional 15,283 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Kennametal by 118.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 98,592 shares of the company’s stock worth $2,217,000 after buying an additional 53,532 shares during the last quarter. Teachers Advisors Inc. boosted its position in Kennametal by 8.3% in the first quarter. Teachers Advisors Inc. now owns 68,549 shares of the company’s stock worth $1,542,000 after buying an additional 5,257 shares during the last quarter. Prudential Financial Inc. boosted its position in Kennametal by 54.8% in the first quarter. Prudential Financial Inc. now owns 126,764 shares of the company’s stock worth $2,851,000 after buying an additional 44,900 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in Kennametal by 26.6% in the first quarter. BlackRock Group LTD now owns 53,870 shares of the company’s stock worth $1,211,000 after buying an additional 11,320 shares during the last quarter. Institutional investors own 97.68% of the company’s stock.
Kennametal Company Profile